Sole proprietorships are the most common type of small business in the United States because they are the simplest structure for business owners looking to start and operate a business. If you own a sole proprietorship, the business belongs 100% to you, but you are also 100% liable for anything that happens to your business. […]
A sole proprietorship is one of the most common business entities used by those who are working for themselves — and it comes with its own set of tax rules.
Tax structure, startup costs, and record-keeping all need to be considered when you’re deciding which business type to form.
If your small business is failing, bankruptcy may be your best option — but it has to be handled the right way.
When you start a new business or take over an existing one, you’ll need to obtain a Federal Tax ID Number, also known as an EIN. Here’s what to be aware of.
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